Categories: News

The United Bank for Africa (UBA) redeems USD500 million 5-year Eurobond

Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%

LAGOS, NIGERIA – EQS Newswire – 13 June 2022 – The United Bank for Africa Plc (�UBA” or the “Group”) (www.UBAGroup.com) on Wednesday 8th June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.

Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%.

As part of UBA’s liability management strategies, in November 2021, the Group repurchased $310.9 million of the notes through a cash tender offer. Upon maturity, the outstanding portion of $189.1 million and the coupon of $7.3 million were paid.

“The Group’s selective participation in international debt markets is a testament to UBA’s robust and prudent liquidity management strategies, coupled with a very strong and diversified asset and liability management process.” said Kennedy Uzoka, GMD/CEO of UBA.

“Our significant customer base, diversified geographical spread and multiple decades of proven track record, continue to ensure that UBA is the preferred destination for investors, individuals, and businesses alike,” Uzoka continued.

With presence in 20 African countries, including Nigeria, as well as operations in France, the UK and being the only sub-Saharan African bank with a deposit-taking licence in the USA, UBA is a leading African financial institution providing banking and financial services to over 33 million customers across the globe.

Download image: https://bit.ly/3NNqVvL

The issuer is solely responsible for the content of this announcement.

Miscw.com

Recent Posts

Dr. Nalinee Paiboon of Giffarine Receives Outstanding Leader Recognition at ACES Awards 2024

BANGKOK, THAILAND - Media OutReach Newswire - 25 November 2024 - Dr. Nalinee Paiboon, President…

2 hours ago

Assure Medical Imaging Commemorates Grand Opening Ceremony

Providing High-end Imaging Services: Establishing a New Benchmark for Personalized Medical Imaging Services HONG KONG…

2 days ago

VinFast officially delivers VF 5 electric cars in Indonesia

JAKARTA, INDONESIA - Media OutReach Newswire - 22 November 2024 - VinFast Auto has officially…

2 days ago

AlphaX Makes Crypto Easier with Email Login and USDT Memecoins

SYDNEY, AUSTRALIA - Media OutReach Newswire - 22 November 2024 - The global cryptocurrency market…

2 days ago

Vincom Retail: A Catalyst Driving Vietnam’s Retail Future

HANOI, VIETNAM – Media OutReach Newswire - 22 November 2024 - By capitalizing on its…

3 days ago

How 5G Transforms Life: A Foreigner’s Journey Through East China’s Digital Revolution

HANGZHOU, CHINA - Media OutReach Newswire - 22 November 2024 - As the 2024 World…

3 days ago